Lothbury Property Trust Developments
Climate Impact & Sustainability Data (2022, 2022-12 onwards)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:1125 tonnes CO2e (Scopes 1&2) in 2021, 948 tonnes CO2e (Scopes 1&2) in 2022
Scope 1 Emissions:201 tonnes CO2e (2021), 144 tonnes CO2e (2022)
Scope 2 Emissions:924 tonnes CO2e (2021), 804 tonnes CO2e (2022)
Renewable Energy Share:80% (2021), 84% (2022)
Total Energy Consumption:4,478,374 kWh (2021), 4,184,274 kWh (2022)
Water Consumption:17,889 m³ (2021), 12,064 m³ (2022)
Waste Generated:59 tonnes (2021), 52 tonnes (2022)
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Refurbishment works completed at 31a James Street obtained BREEAM certification (design stage ‘Very Good’ rating), resulting in energy savings and reduced heating costs.
- North Bailey House in Oxford achieved a BREEAM Excellent rating (design stage), and ActiveScore certification, targeting net zero embodied carbon.
- 100% coverage of EPC certificates for its assets.
Social Achievements
- Support given to local sports teams and charities.
- Community consultation events held with residents associations.
- Floor space provided rent-free to a local social enterprise.
- Community room at Sheraton Park available for local community use.
- 5-year scholarship agreement to support a postgraduate student.
- Launch of a car-sharing platform at Broadland Business Park.
Governance Achievements
- GRESB: LPT obtained a 4* rating in the Standing Investments Benchmark and a 5* rating in the GRESB Development Benchmark, achieving 5th and 1st position in the respective sector groups.
- LPT is a signatory to the UN PRI and has prepared a voluntary TCFD disclosure report for the year ending 31 December 2022.
- LPT has made GRESB submissions since 2013.
Climate Goals & Targets
Long-term Goals:
- Define and finalise the Net Zero pathway and communicate LPT’s commitment.
Medium-term Goals:
- Achieve and maintain relevant certifications for all assets: Obtain EPC ratings for all assets/units in portfolio and seek to continually improve ratings to stay ahead of MEES (Minimum Energy Efficiency Standards) legislation.
- Achieve and maintain relevant certifications for development projects: Obtain EPC ratings of minimum B rating for new developments.
- Sustainability – Obtain BREEAM certification with a minimum standard of Very Good – for all new construction / major refurbishment projects.
Short-term Goals:
- Review green lease clauses for standard tenant contract terms.
- Incorporate ESG objectives in biannual business plans for each asset.
- Review and update Development Sustainability Strategy.
- Implement the Development Sustainability Strategy for all new construction and major refurbishments.
- Establish processes for high-quality landlord-managed data collection and analysis.
- Undertake quarterly monitoring of portfolio performance using a third-party reporting platform.
- Implement ESG training across all relevant teams.
- Embed ESG objectives in all employees’ performance reviews.
- Develop a climate resilience strategy.
- Set Net Zero Carbon pathways and targets for assets at risk of stranding.
- Direct line of reporting to be created between the ESG committee and the board.
- Develop a Social Value policy.
- All acquisitions to comply with Acquisition checklist, including tenant exclusion policy.
- Conduct an EPC review for the portfolio.
Environmental Challenges
- Reduced data coverage for student housing affecting energy consumption figures.
- Increased energy consumption due to lifting of Covid restrictions.
- Significant increase in water consumption at Broadlands Business Park.
Mitigation Strategies
- Improved data collection and analysis processes are being implemented to improve data coverage across the portfolio for asset environmental performance (including energy, water and waste).
- Review and update Development Sustainability Strategy to capture all material ESG issues.
- Develop a climate resilience strategy. Includes review of material risks to enable enhanced TCFD reporting.
Supply Chain Management
Responsible Procurement
- Working with preferred supply-chain partners committed to sustainability to select materials and manage waste on site.
Climate-Related Risks & Opportunities
Physical Risks
- Flooding
Transition Risks
- Regulatory changes
Reporting Standards
Frameworks Used: INREV Sustainability Reporting Guidelines 2016, GRESB
Certifications: BREEAM, ActiveScore, EPC
Third-party Assurance: IHS Markit (limited assurance engagement of reported environmental data)
Reporting Period: 2022-12 onwards
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:10% target where viable
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Not disclosed
Social Achievements
- Not disclosed
Governance Achievements
- Not disclosed
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Not disclosed
Environmental Challenges
- Not disclosed
Mitigation Strategies
- Not disclosed
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Favouring contractors and suppliers with good environmental practice, meeting HSE guidelines, and having policies on human rights, ethics, and fair labour practices.
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: BREEAM
Certifications: PEFC, FSC
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Not disclosed